I am here during, arguably the greatest stock market crash in our lifetimes, definitely in the past few decades.
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Are you getting hurt?
Are you safe?
Are you following rule number one and CUTTING LOSSES QUICKLY…?
Are you profiting like me, because we’re trading off the volatility?
We’re not doubling down or tripling down or quadrupling down like too many traders are doing, where they’re like, “THIS MUST BE THE BOTTOM.”
Frankly, how do you profit from a stock market crash?
You stay very liquid, and you stay very nimble.
Too many people say, “This must be the bottom,” and they put up like this wall in their minds of some imaginary price support, and then usually the stock just blows right through it.
And then, they like to forget about what just happened, and then they say, “Okay, this next level, this is the bottom,” and then it blows right through that, and then they’re confused.
And then, they get very aggressive and they’re like, “Well, I was wrong twice, “so now the third time I’m gonna be right.”
Listen, it doesn’t matter if you’re wrong once, twice, three times, four times, five times. THE STOCK MARKET DOESN’T CARE ABOUT YOU, okay?
You’re not that special, your mom lied to you.
I’m sorry to be the bearer of bad news, but you have to be realistic about this.
YOU’RE NOT GONNA PICK THE EXACT BOTTOM. Nobody is, and that’s okay.
The good news is you don’t have to do that to make money.
There’s still gonna be dip buying opportunities along the way.
You know, the Dow dropped roughly 10%, and in between the open and the close, there was actually a thousand point bounce mid-day when the Fed governors came in and they said,”Hey, we’re gonna try to support the market,” and everyone’s like, “Wow, this is the bottom.”
That lasted only an hour or two.
It was actually pretty crazy, pretty disheartening for all dip buyers.
And, that’s what’s been happening each of the past few days.
This isn’t just a one-day stock market crash.
This has been going on for a few weeks because of the corona virus.
And every time the market panics a little too much, some good news creeps in and people like to say that that’s the bottom, and they like to try to trade, thinking that it’s the bottom.
And then when it’s not, they double-up, triple-up, quadruple-up, like I said.
Then they lose.
So, how do you profit in a stock market crash?
You find the hot sector.
Rule number one, normally CUT LOSSES QUICKLY but in a crashing market, find a hot sector, find something that is working, because whatever is causing the stock market crash, there’s usually a company or sector that’s benefiting.
It’s not like the whole world is ending, although during a stock market crash if ever there was like a nuclear war, probably the whole market would crash.
Although, probably nuclear companies might spike.
I don’t know, let’s hope we don’t have to go there.
But, that’s how you have to think.
Not think in terms of like, “Oh, what is Amazon’s true net worth or what is Boeing really worth right now?”
That’s what a lot of people who get themselves in trouble are thinking right now.
During a stock market crash, the true value of anything doesn’t matter, because everything is moving based on fear.
Everything is moving based on panic.
So even if Boeing is worth, let’s say $200 a share and it’s down to 160, it could still go to 130, it can still go to a hundred, because the market is not always thinking rationally.
And even though you want the market to be rational and logical and an exact science, it can stay irrational longer than you can stay solvent.
So if you keep doubling down, tripling down, quadrupling down, and saying, “Hey, the market eventually has to make sense,” no it doesn’t, okay?
A lot of rich, a lot of wealthy, a lot of very smart people have gone broke by thinking that way, so I wanna teach you to be different.
We’re not making millions of dollars, we’re not like, absolutely making our careers during this market crash, but we are making a few thousand dollars.
But, you can still make several thousand of dollars, several hundred thousand dollars.
And if you wanna be aggressive, maybe you can make a few million during market crashes.
You don’t have to lose.
And another option, you don’t even have to trade, okay?
This is another thing.
A lot of people think, “Oh, I have to be in a stock. I have to make money or I have to lose, like everyone’s doing something.”
SOMETIMES THE BEST TRADE IS NO TRADE AT ALL.
Often times, cash is the best position, and a lot of people forget this, so I have to remind them.
Everybody wants to put their money to work, but often times there’s nothing worth trading.
A lot of people are asking me like, “When is the bottom, when do I finally buy?”
I don’t know the answer.
You don’t need to know the exact bottom.
You don’t need to have like this big plan.
You just take it as the opportunities come about.
So as much as you wanna plan and you wanna say, “This is definitely the trade,” I don’t know.
I don’t know what’s gonna happen tomorrow.
We have to wait and see the coronavirus news.
We have to wait and see how the government is reacting.
There’s breaking news all the time.
If you’ve been in my chatroom lately, you’ll see that there’s a lot of different news.
You wanna react to it, you do not have to predict it.
All of my best trades were not done predicting news.
It’s not like I have inside information or I just am such a genius that I can predict news ahead of time.
It’s more about just being ready for patterns and set-ups that I know.
So, recognize patterns that you’re good at.
Practice lots of different patterns, so that you learn what you’re good at.
And then, trade when those patterns appear, whether it’s a market crash, whether it’s not.
And if it’s your first market crash, don’t be afraid to trade smaller.
Don’t be afraid to stay out of the market.
YOU DON’T HAVE TO BE A HERO.
A lot of people think, “Oh market crashes, “this is when I can really make the big money.”
It is scary, okay?
I don’t care what anyone says. it’s scary.
If I can walk away on a day and make $3,000 as the overall market drops 10%, that’s a good day.
Long story short, you want to take singles.
You wanna try to take what you can, whether it’s $3,000 or $500, or maybe you don’t even trade.
Winning during a stock market crash does not involve being a hero, does not involve betting big and betting all.
You have to stay sane, you have to survive, and you have to take what opportunities the market gives you.